Report: It will take over 500 years to earn $1m as a Nigerian worker

An average Nigerian worker must work for many generations to become a dollar millionaire.

This is according to a new study conducted by Picodi.com which calculated how long it will take a worker worldwide to become a dollar millionaire while earning an average wage.

The study released on Thursday, discovered that an average employee in Nigeria must work for 554 years to make $1 million, making Nigeria one of the countries where it takes the longest to become a dollar millionaire.

Picodi ranked Nigeria’s worker-to-a-million-dollar longevity as the 99th worst among the 102 countries surveyed.

Nigeria is only ahead of Uganda, Egypt, and Pakistan – the bottom three with 559 years and four months, 646 years, 8 months, and 664 years and 6 months, respectively.

Picado says that the study is essential as many professionally active for many years rarely think about how much money they have earned throughout those years.

For the top five countries where it takes the fastest to make $1 million, Switzerland ranks on top of the list, with an average employee making their first $1 million in 14 years and three months.

Read also:Salaries of Nigerian workers drop, as manufacturers battle to survive

Singapore comes second, with employees taking 16 years and 11 months to become dollar millionaires, followed by Luxembourg, which takes 17 years and four months to achieve the feat.

The US and Iceland rank among the top five countries on the list where it takes 19, ten, and 20 and years 11 months, respectively, to become an employee millionaire.

On the African continent, in South Africa, it takes 68 years and three months for an average worker to earn $1 million.

While Kenyan workers will earn $1 million faster than Nigerians as they must work 209 years and seven months.

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